The study examines the role of a CEO in enhancing a firm's performance through the mediating effect of investment decisions in the emerging economy of Pakistan. Distinctly, fixed‐effects panel regression method is employed to examine the said nexus of nonfinancial firms listed at the Pakistan Stock Exchange. It is empirically unearthed that CEO attributes, namely, age, tenure, ownership, financial education, and career experience, are positively related to firm performance in general and capital investment decisions in particular. Second, capital investment decisions partially and significantly mediate the nexus between CEO attributes and firm performance with few exceptions that confirm the theoretical implications of upper echelons theory in an emerging economy context.
This study is focused in analyzing the existence of J-curve phenomenon of Pakistan with Saudi Arabia by using the time series data from 1973 to 2010. Order of integration of the variables is mix as some variables are I(0) and some are I(1). So, ARDL approach to cointegration is applied to find out the relationship between exchange rate and trade balance. Results in both models do not support the existence of J-curve. The conclusion which is drawn from these models is that depreciation is not useful tool in improving trade balance of Pakistan with Saudi Arabia. Pakistan has to fine some alternative way of improving trade balance with these countries.
The people from developing countries like Pakistan move to developed countries to earn their bread and butter. Consequently, such migrants remit a handsome part of their earnings to their dependents living in homeland. Foreign remittances have multidimensional impact on the economy of a developing country. The study evaluates the impact of foreign remittances on income inequality in Pakistan by estimating the set of fixed effect and random effect models using the pooled data from eight household income and expenditure surveys between 1998/99 and 2015/16. Gini coefficient as well as generalized entropy measure is used to estimate income inequality, but the results remain intact. It is observed that foreign remittances have statistically significant favorable impacts on income inequality in Pakistan. Further, the results are robust and insensitive to control variables (e.g. income and poverty measures, headcount ratio, poverty gap and squared poverty gap). The policy measure is that Bureau of Emigration and Overseas Employment (BEOE) should be empowered to explore the job opportunities in developed countries. The government should assist the migrants through subsidizing the visa and migration processes to capitalize the foreign remittances.
This study focused on analyzing the impacts of different sectors’ growth and globalization on child labor in Pakistan. The order of integration variables was found mix as some were I(0) and some were I(1). That’s why, the long run and short run dynamics were evaluated through ARDL mechanism using data from 1980-2014. The long run and short run inferences revealed that growth reduced child labor significantly in all sectors except services. The urban population growth significantly lessened the child labor as compared to rural population. The FDI significantly decreased the child labor growth while trade openness did opposite. Results suggest that trade policy and labor laws of ILO should be implemented.
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